Home Depot (HD) has a lot going for it today as it is break through multiple levels of resistance both from a short-term and longer-term time frame.
First you have a double bottom that has formed and confirmed over the past month. Next you have a key support/resistance level at $130 that has been an issue for the stock, going back to December of last year. But now it is trading above it.
The stock is chugging higher today and has done a great job of avoid the drama of Brexit and instead just keeps ripping higher. I can see myself possibly trading this stock with a stop-loss of somewhere around Friday’s lows and before it gets into the gap. Plenty of upside until HD reaches the $135’s.